A client has outward foreign remittance of Rs 85 lakh in AIS for import of goods and he has sold the same goods locally in India and turnover is Rs 95 lakh. Can we file ITR 4 for outward foreign remittance in this case?
A client has outward foreign remittance of Rs 85 lakh in AIS for import of goods and he has sold the same goods locally in India and turnover is Rs 95 lakh. Can we file ITR 4 for outward foreign remittance in this case?
YES — ITR-4 CAN be filed, even if there is outward foreign remittance for import of goods, provided all other conditions of Section 44AD are satisfied.
Foreign remittance by itself does NOT disqualify ITR-4.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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